Annexon (NASDAQ:ANNX) Stock Price Down 4.3% - Here's Why

Shares of Annexon, Inc. (NASDAQ:ANNX - Get Free Report) were down 4.3% during trading on Monday . The stock traded as low as $5.14 and last traded at $5.18. Approximately 84,624 shares were traded during trading, a decline of 88% from the average daily volume of 735,833 shares. The stock had previously closed at $5.41.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Annexon in a research note on Friday, November 15th. HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of Annexon in a research report on Tuesday, December 17th. Finally, Needham & Company LLC reissued a "buy" rating and set a $16.00 price target on shares of Annexon in a research report on Friday, November 15th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $15.80.

Annexon Price Performance

The stock's fifty day simple moving average is $5.67 and its 200-day simple moving average is $5.94. The stock has a market cap of $538.30 million, a P/E ratio of -4.81 and a beta of 1.11.

Insider Buying and Selling

In other news, EVP Ted Yednock sold 5,408 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $7.41, for a total transaction of $40,073.28. Following the completion of the transaction, the executive vice president now directly owns 71,365 shares in the company, valued at approximately $528,814.65. The trade was a 7.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Annexon

Several institutional investors have recently bought and sold shares of ANNX. JPMorgan Chase & Co. boosted its holdings in shares of Annexon by 16.0% in the third quarter. JPMorgan Chase & Co. now owns 1,706,182 shares of the company's stock valued at $10,101,000 after acquiring an additional 235,810 shares in the last quarter. Franklin Resources Inc. bought a new stake in Annexon in the third quarter worth about $292,000. Barclays PLC lifted its holdings in Annexon by 212.0% in the 3rd quarter. Barclays PLC now owns 177,765 shares of the company's stock valued at $1,052,000 after acquiring an additional 120,789 shares during the last quarter. Geode Capital Management LLC lifted its stake in Annexon by 18.3% during the third quarter. Geode Capital Management LLC now owns 2,143,635 shares of the company's stock valued at $12,693,000 after purchasing an additional 331,269 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Annexon by 36.2% in the third quarter. Wellington Management Group LLP now owns 263,360 shares of the company's stock worth $1,559,000 after buying an additional 69,941 shares during the last quarter.

Annexon Company Profile

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops medicines for treating inflammatory-related diseases. Its lead candidate is ANX005, an investigational full-length monoclonal antibody, which is in Phase 3 clinical trial for the treatment of patients with guillain-barré syndrome; completed Phase II clinical trial for treating Huntington's disease; and in Phase II clinical trial for the treatment of amyotrophic lateral sclerosis.